article thumbnail

Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

Amid protests set off by George Floyd’s death, Fannie Mae ’s CEO issued a public statement about its commitment to racial equity. I told him, ‘We have this serious racial equity issue still pending, and I hope Fannie Mae is serious about it.’” Our role in housing finance brings important responsibilities.”.

Equity 381
article thumbnail

Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

A 30-year loan mod option limits the amount of interest paid and helps borrowers accumulate equity in their homes more quickly, the groups said in the letter. At the time, the Department of Housing and Urban Development said the option could prevent “several thousand borrowers a year from foreclosure.”.

Loans 421
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans

Housing Wire

The GSEs should “increase certain loan purchases” in Duty to Serve markets; develop new and accessible loan products and programs; and evaluate new business partnership opportunities. Better loan products to serve “high-needs rural regions” should also be developed.

article thumbnail

How To Create Wealth Investing In Real Estate

Lab Coat Agents

However, there are many ways to invest in real estate. Overall, it means that you invest in real estate either through equity (owning the property) or debt (borrowing money) (loaning the funds to buy the property). Anyone with the willingness and a small amount of money to invest can invest in real estate.

article thumbnail

How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

Again, the timeline varies by state, but this typically begins three to six months after the first missed payment , according to the Department of Housing and Urban Development (HUD). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it.

article thumbnail

Opinion: 5 policy changes that can improve housing affordability

Housing Wire

Residential zoning laws are designed to promote orderly development, control traffic flow, and ensure that noise and activity levels are appropriate to each specific neighborhood. Launch a government-funded affordable housing awareness campaign Home equity is the primary source of wealth for most Americans.

Land 418
article thumbnail

Buying REO Homes? Here’s What to Do — And What Not to Do — According to Experts

HomeLight

In the market for a “ real estate owned” property ? Experienced REO buyers swear by this method of wealth-building through real estate. “One So how can you develop that skill that makes the pros so confident — and drives major return on investment? There is never a perfect investment situation.

Banks 104